In 2022 , Concord Corporation had net sales of $596,000 and cost of goods sold of $350,000. Operating expenses were $149,500, and interest expense was $7,800. The corporation's tax rate is 32%. The corporation declared preferred dividends of $13,162 in 2022 , and its average common stockholders' equity during the year was $174,000. (a) Prepare an income statement for Concord Corporation